Ericsson shares surge after major 3 deal

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The Swedish telecommunications giant Ericsson said on Tuesday that it had signed a major contract to run the entire network of British mobile phone operator 3, a subsidiary of Hong Kong's Hutchison Whampoa.

Ericsson said the deal was its largest managed-services contract ever and one of the largest such deals in the telecommunications industry.

The company gave no figures for the value of the contract, but its largest single contract previously was a five-year managed-services deal with 3 in Italy for 15 billion kronor (1.9 billion dollars).

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